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President Donald Trump started in sales mode, using his State of the Union address to deliver an upbeat vision of the U.S. economy. But that portrayal collides with the sentiment of Americans who remain anxious about their finances and feel they haven’t benefited from Trump’s policies. He took the high road to honor the gold medal-winning U.S. mens Olympic hockey team and a war hero before pivoting abruptly to a darker tone as he ridiculed Democrats. Here are takeaways from the speech. Trump’s roaring economy is at odds with sour public sentiment Much of the nation is worried about the direction of the economy, but Trump says the good times are here, insisting repeatedly that rising costs are no longer a problem. The roaring economy is roaring like never before, he said. He cheered the lower cost of gasoline, mortgage rates, prescription drug prices and the rising stock market: Millions and millions of Americans are all gaining. Such optimism, as so many Americans are feeling economic strains, risks painting Trump as out of touch. Just 39% of U.S. adults approved of Trump’s handling of the economy in February, according to AP-NORC polling. Still, the president focused much of the first hour of his speech on the economy, something Republicans had urged him to do as they head into the midterm elections. Trump wraps himself in the flag For a president who always seems to be spoiling for a fight, Trump also tried to summon Americans innate patriotic impulses. In addition to the hockey team, he singled out war heroes and those who had taken brave stands in other countries, using the moment to bestow numerous presidential medals in an effort to give the address a more positive gloss. It underscored the president’s media savvy and understanding that even if a moment isn’t appreciated completely in real time, it can have an afterlife in the days following speech, especially on social media. Yet in one revealing moment, Trump lamented why he couldn’t give a congressional medal to himself. Taking aim at Democrats Tributes to the Olympic hockey team and a World War II veteran didn’t unify the room for long. The Republican president soon took aim at Democrats and blamed them for many of the nations ills. Trump said rising health care premiums are caused by you, suggested Democrats are not protecting Social Security and blamed them for the nations affordability crunch. You caused that problem. You caused that problem, Trump said as he glared at the Democratic side of the room. He seemed to get angrier as the speech progressed. These people are crazy, Im telling you, theyre crazy, he said. Democrats are destroying this country. Trumps MAGA base loves such aggression. Its unclear, however, if the rest of the country feels the same. The Supreme Courts unfortunate decision By Trumps standards, he held his tongue when it came to the Supreme Court. After the court struck down his tariff policy last week, Trump said the justices who voted against one of his signature issues were an embarrassment to their families. By Tuesday, he simply called the ruling unfortunate. Trump sought to treat the ruling with indifference, insisting that tariff revenues were saving the U.S., ignoring the fact that the levies havent made a significant dent in government debt. He said the tariffs were paid by foreign countries even as virtually every study concludes that costs have been paid by U.S. firms and consumers. At one point, he seemed to take the long view that history would ultimately vindicate him even if the Supreme Court would not. As time goes by, I believe the tariffs paid by foreign countries will, like in the past, substantially replace the modern day system of income tax, taking a great burden off the people that I love, he said. That is unlikely. The federal income tax is authorized by the 16th Amendment to the Constitution and the power to collect revenue is ultimately defined by Congress, not the president. Trump vows action on election ‘cheating’ The president also used the speech to reprise his attack on the integrity of U.S. elections. Cheating is rampant in our elections, Trump said. Trump has made such claims for years, focused on his 2020 election loss, claims rejected by dozens of courts and his own attorney general at the time. But the timing of Tuesdays prime-time claims, less than nine months before voters across America are scheduled to decide control of Congress, was noteworthy. So, too, was Trumps suggestion that he would take action to address a problem that doesnt appear to exist. They want to cheat. They have cheated, and their policy is so bad that the only way they can get elected is to cheat, Trump said of Democrats. And were going to stop it. We have to stop it. Trump is calling on Congress to pass a bill requiring voters to show a photo ID before casting ballots. But he also recently vowed to enact an executive order to address the issue, although the White House has not clarified what it might entail. No mention of Minneapolis Sometimes whats not said is as notable as what is. Trump has highlighted immigration since the very first speech in which he announced his 2016 presidential campaign. And on Tuesday night, he revived much of the same language hes used throughout the past decade, blasting criminal aliens and warning of drug lords, murderers all over our country. What he didnt mention: the most aggressive immigration enforcement tactics that threatened to bring the U.S. to the brink earlier this year. He didnt mention the deaths of two U.S. citizens in Minneapolis last month at the hands of federal agents. Indeed, it was Rep. Rashida Tlaib, D-Mich., who shouted that Alex wasnt a criminal, referring to Alex Pretti, one of the U.S. citizens killed in Minneapolis. During her Democratic rebuttal, Virginia Gov. Abigail Spanberger said law enforcement must work to build trust in communities and said Trump every minute spent sowing fear is a minute not investigating murders. Trump said nothing of his administrations shift in tactics, including a drawdown of agents in the Twin Cities. And he made no acknowledgment of the broad concerns in the U.S. about Trumps approach on immigration, as demonstrated by the 60% of U.S. adults who disapproved of his handling of the issue in February, according to AP-NORC polling. Drumbeat for war gets louder Trump has already built up the largest U.S. military presence in the Middle East in decades. And in his speech, he outlined a rationale for using those forces to launch a major military strike against Iran. The president said that Iran and its proxies have spread nothing but terrorism, death andhate, adding that its leaders killed at least 32,000 protesters in recent weeks, which is at the further end of estimates over the death toll. The U.S.-based Human Rights Activist News Agency has so far counted more than 7,000 dead and believes the death toll is far higher. Irans government offered its only death toll on Jan. 21, saying 3,117 people were killed. Trump also warned that the nation has developed missiles that can threaten Europe and is working on missiles that will soon reach the U.S. My preference is to solve this problem through diplomacy. But one thing is certain, I will never allow the worlds number one sponsor of terror, which they are, by far to have a nuclear weapon. Cant let that happen. On brand, the speech was the longest SOTU ever The president, ever mindful of records that allow him to say he was the first, the best or had done the most, succeeded clearly on one thing: he beat his own record for the longest, clocking in at just under 1 hour, 48 minutes. By STEVEN SLOAN and STEVE PEOPLES Associated Press
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E-Commerce
Its no secret that fast casual restaurants have struggled in recent years, with some companies turning to cheaper options as a way to lure customers back. The latest chain to do so is Panera Bread, which just announced its first-ever value menu. It includes 10 items that are each $4.99. Customers must pick at least two items to use the menu and will get the typical free side of an apple, chips or bread. Anyone who has been to Panera will recognize it as a scaled-down version of the long-standing You Pick Two deal. [Photo: Panera] There are four half sandwiches, three half salads, and three cups of soup. There will be a rotating seasonal item, but to start Paneras value menu will include: Sandwiches Toasted Italiano Toasted Caprese Focaccia Bacon Turkey Bravo Cranberry Walnut Chicken Salad Salads Fuji Apple Chicken Ranch Parm BLT Caesar Soups Creamy Tomato Homestyle Chicken Noodle Bistro French Onion Paneras value menu follows similar offerings that have popped up from restaurant chains like Taco Bell, McDonald’s, and more. Theyve come as high inflation caused fast food menu prices to shoot up and customers to revolt. In 2024, McDonald’s released its $5 value meal, a move that has proved successful in increasing sales, The New York Times reported earlier this month. Panera has also faced controversies and layoffs of late Alongside changing spending trends, Panera has also been rocked by controversies. In 2023, the company faced multiple lawsuits over deaths allegedly related to its high-caffeine Charged Lemonade drinks. Two deaths were due to cardiac arrest. Panera has since settled the lawsuits and removed the Charged Lemonade drink from its menu, NBC reported. Panera also laid off 72 employees last year after shutting down a production facility in Missouri, USA Today reported. It follows the shutdown of four other facilities in the United States.
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E-Commerce
AMC, the worlds largest movie theater chain and a one-time darling of meme stock traders, said this week that it expects to continue closing more movie theaters than it opens going forward. While the move is sure to disappoint cinephiles, AMC believes that shuttering certain cinemas will ultimately be better for the companys bottom line. Heres what you need to know about the upcoming AMC theater closings. Whats happened? On Monday, AMC Entertainment Holdings reported its fourth-quarter 2025 financial results as well as its full-year 2025 results. Its fair to say the company did not have a blockbuster quarter or year. For the companys Q4 2025, which ended on December 31, AMC reported total revenue of $1.28 billion. Thats a drop of 1.4% from the $1.3 billion the company reported for the same quarter a year earlier. Fewer people are attending movies AMC said that both its global and international attendance figures were down. For Q4 2025, AMC’s total attendance equalled 56.3 million. Thats a drop of nearly 10% from the 62 million during the same period a year earlier. U.S. attendance was down less (about 7.5%) for the quarter than international attendance (down about 15%). However, for its full fiscal 2025, AMC did slightly better. Total full-year revenue was actually up about 4.6% to $4.84 billion. And its attendance figures, while still down across the board, didnt fall as much as it did in the forth quarter. Still, the downward trend in attendance was obviously a blow to AMC, which relies on attracting foot traffic to its theaters so it can sell tickets and high-margin concessions. Attendance problems are not unique to the company. In recent years, movie theaters worldwide have struggled with declining foot traffic. The reasons most often cited for those declines include higher ticket prices, fewer films with mass-market appeal, and increasing competition from streaming services like Netflix, which stream original feature film content right into viewers homes. Declining foot traffic can turn some theater locations into a financial burden instead of a guranteed positive revenue source, so it was little surprise when, in addition to annoucning its financials, AMC revealed that in the years ahead it is planning to close more theaters than it opens. AMC reveals it will close more theaters than it opens AMC currently has about 860 theaters across the globe, making it the largest theater chain in the world. Yet on the companys financial earnings call earlier this week, CFO Sean Goodman revealed that AMC will be closing underperforming locations in the futuresomething the chain has already been doing for some time. The CFO further revealed that since 2020, AMC had already closed 213 locations, while opening just 65 new ones during the same timeframe. Which AMC movie theaters are closing? The company did not provide a list of theaters that it plans to close, but local media outlets have reported numerous closures in their respective communities over the last year. AMC location closures in 2025 have included: An Alabama location in March A Kansas location in April A Georgia location in August Three Illinois locations in August A Colorado location in September A Buffalo, New York, location in December The ongoing reshaping of our footprint reflects our commitment to improve asset productivity, expand margins, and position AMC for sustainable long-term growth, Goodman said on the companys financial call, according to a PitchBook transcript. When asked about the companys portfolio footprint by an analyst, Goodman said that about 10% of the chains theaters come up for lease renewal each year, and those renewals give AMC the opportunity to renegotiate leases or shutter the locations. “Like most organizations or companies with a retail footprint, our theaters are a kind of normal distribution and there is a tale of underperforming or loss-making theaters,” he said. “And we see an opportunity to close those theaters or renegotiate leases and then take on new theaters that are significantly, very significantly, more profitable.” He added that investors can expect a similar pace going forward and that the company will be “closing more theaters than we open, but the new ones that we open are generating significantly more profit than the ones that we close. AMC stock price has been getting hammered Since announcing its latest quarterly results on Monday, shares of AMC Entertainment (NYSE: AMC) have been relatively flat. The stock price currently sits at around $1.16 a share in premarket trading as of the time of this writing. That’s only a fraction of what the companys shares were once worth during its heyday as a meme-stock darling in the early pandemic years. During that time, meme stock traders on Reddit poured money into buying AMC shares, driving the price to almost $650 per share in June of 2021. Todays share price of around $1.16 represents a more than 99% decline from AMCs nearly $650 high.
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E-Commerce
Women’s sports continue to thrive. Record-breaking WNBA viewership, a flood of new brand investment, and now Unrivaled: the women’s basketball league built by players, for players. Commissioner Micky Lawler pulls back the curtain on what it really takes to launch a high-stakes sports startup in the full glare of the public eye. The question is no longer whether women’s sports can compete. It’s how fast they can grow. This is an abridged transcript of an interview from Rapid Response, hosted by the former editor-in-chief of Fast Company Bob Safian. From the team behind the Masters of Scalepodcast, Rapid Responsefeatures candid conversations with todays top business leaders navigating real-time challenges. Subscribe to Rapid Responsewherever you get your podcasts to ensure you never miss an episode. I first came upon Unrivaled last year around this time. I’m a basketball fan, but other 3-on-3 leagues didn’t really connect for me. But Unrivaled, it grabbed my attention right away. The format, the players, the model of playing in one location in Miami, adopting what the WNBA did during the pandemic bubble, it’s fun. You felt what I felt when I first heard about it. I loved it from the start. I could see it, I could feel it. And what’s not to like about the name, Unrivaled? And the timing for the league when it came out was great. It was just as the Caitlin Clark mania was surging, although I know Caitlin hasn’t competed on Unrivaled. But women’s leagues overall were accelerating, the WNBA, the NWSL. How much did that timing matter for you? Look, I’ve spent a lifetime working in professional sports, and in particular in tennis, most of it in women’s tennis, and so I could see the momentum. And sometimes the world has a way of working in mysterious ways, because the timing was also perfect for me, having just retired from the WTA. Were you into basketball before this? I mean, your life was obviously tennis, so that was where your time and your energy was focused. When you work in sports, it’s your microcosm, so I was very familiar with the opportunity of women’s basketball, and I always loved it. When my kids played sports, basketball was my favorite season because it’s so much fun to watch. And I did play in high school, very badly, so basketball was not entirely foreign to me, but it’s like you lived in San Francisco and now you’re moving to New York. It’s the same country, but it’s two very different cities. Does that make sense? Yeah. Part of Unrivaled’s appeal for the players is financial. WNBA salaries remain modest. Players generally have to look for other paying gigs in the off-season. It’s why Brittney Griner went to Russia. You’re offering sort of an alternative to going overseas. Your salary pool isn’t enormous, but there are other benefits, including equity. This is part of the selling point to the players is the financial opportunity, and I guess the vibe in Florida where Unrivaled happens. As a professional athlete, when you are competing six months of the year, you need to have another source of competition. Income, yes, but also competition. You need to stay sharp, you need to stay in shape, you need to keep working on your craft, on your game. So both Breanna and Napheesa are mothers, and for them it was increasingly difficult to go overseas for three months, and also for their own brand exposure in the market. So we looked at this as a way to really build the entire ecosystem of women’s basketball and support what clearly is a very interesting league, which is the WNBA. SAFIAN: Yeah. You’re separate from the WNBA, right? LAWLER: Yes. Yes. But as you say, you travel in these concentric circles with players and media partners and sponsors. How do you approach that relationship? Well, we have 54 WNBA players here in-house, so our approach is to really deepen the focus on players, getting them into the public eye. And so, we hope that this is all very, very positive and good for the environment in which the WNBA operates. So the relationship is complimentary. You’re deep into Unrivaled’s second season. The playoffs start February 28th, the end of the month. The business of the league keeps evolving. More sponsors, more facilities, more teams. You added the 1-on-1 tournament mid-season, took the league on the road to Philadelphia, and the semi-finals will be right near me at the Barclays Center in Brooklyn. This sort of business roadmap, how does it compare to your efforts growing the WTA? How much do you look at and focus on, what’s the lowest hanging fruit, what’s easiest to get versus long shot plans? At the WTA, you have a structure where owners, tournaments, and players sit on the same board. There’s a 50/50 ownership. The players, they’re not contracted by the WTA, so they are self-employed and they have their own commercial rights. So the tour has to try to elevate the whole thing with limited assets, getting to a point that perfects the pressure on the players, not overstressing them, but you also have to answer to players number one to 250. And the number one is going to play many more matches. But in any case, it’s a lot to juggle. Over here you’ve got a clean slate and you’re giving players real equity from the start. So the players were very, very fast to understand that the more Unrivaled grew, the better for them from every angle. The more that they could participate in telling brand stories, the more their own story would be relevant. So it’s completely different because you don’t have to argue about the value of social media like we did with the WTA many years ago. We need to change the media requirements from a post-match interview to giving some time to the social side. In tennis, that took a long time. Here it’s front and center. They want to be doing it. They understand the holistic side to the business, that it’s not just about being a phenomenal basketball player. You have to be good at social. You have to serve the press, serve all your fans, create an environment that is community. If I had any doubt that this was going to work, well, that was quickly gone because of the intensity of the fans and the intimacy. Sephora Arena is a place where you come to be very happy and entertained, and you see just stellar performances. The players are aware that it’s a start-up, but they’re also aware that everything goes to serve them. We are highly, highly focused on making sure that they have everything that they need. Having two player founders in Breanna and Napheesa, we know they need a glam room. They need, of course, a weight room. They need training, and a very good training room and a training team. The best childcare. Saunas. Infrared for inflammation and recovery. I can’t do it justice. I loved the 1-on-1 tournament that happened. Yeah. When you go to the players and you say, “Hey, what about doing a 1-on-1 tournament?” Are they like, “Oh, that’s great. We play 1-on-1 against each other all the time,” or are they like, ̴Oh, I don’t know. It’s more work for me”? Both. You have the players that shy away from it a little bit, but once they play, they’re all-in. And it is, again, the crowd was so into it. The men talk about it, how much they would love it, and so we did it. And these women, they leave no stone unturned. They fight. Well, that was part of what I loved about it. They looked exhausted. You could physically see they’re not dogging this. Sometimes in an all-star game, you can tell the players are a little sort of they’re in it. Totally in. Personally, in year one I thought, “Oh my gosh, this is starting to look like a tennis tournament. Is this the right place?” But it has been a big success. Players love it.
Category:
E-Commerce
Some bad news for all the mutual fund managers out there: A new study from researchers at Harvard Business School seems to support the fear that artificial intelligence and machine learning could do their jobs. But here’s the catchwith only about 71% accuracy, depending on how predictable their trades are. The working paper Mimicking Finance from Lauren Cohen, Yiwen Lu, and Quoc H. Nguyen, published this month by the National Bureau of Economic Research, finds “that 71% of mutual fund managers trade directions can be predicted in the absence of the agent making a single trade.” The paper goes on to say, For some managers, this increases to nearly all of their trades in a given quarter. Further, we find that manager behavior is more predictable and replicable for managers who have a longer history of trading and are in less competitive categories.” What does that mean? Basically, that the trades of more senior managers, especially those who are in less competitive areas, are easier to mimic (and thereby, those jobs might be easier to replace with AI). The findings are based on data the researchers analyzed from 1990 to 2023 that took into account the size of the fund, the broader economic indicators, and investor flows. Perhaps what’s most alarming for mutual fund managers, though, is the paper’s conclusion: “For some managers,” AI predicted “nearly all of their trades in a given quarter”which is the equivalent of a mic drop. However, there are a few big caveats. The paper finds that the larger the ownership stake of the manager in the fund, the less predictable their behavior. It also found less predictable managers strongly outperform their peers, while the most predictable managers significantly underperform. Even within each manager’s portfolio, the research shows “those stock positions that are more difficult to predict strongly outperform those that are easier to predict” (a bright spot for fund managers who want to keep their jobs). The study is significant because it explores which tasks could be automated using AI, and how that could affect jobs in the financial sector. It estimates the U.S. asset management industry to be worth about $54 trillion.
Category:
E-Commerce
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